Chap. 107.—An ACT to authorize the school board of Western Branch
magisterial district, No. 1, of the county of Norfolk, Virginia, to bor-
row money for the purpose of school improvements in said district,
and to issue bonds therefor, not to exceed the sum of $15,000 in

(H.

amount. B. 133.)
Approved March 4, 1916.

1. Be it enacted by the general assembly of Virginia, That
the school board of Western Branch magisterial district num-
ber one, of the county of Norfolk, Virginia, be authorized and
empowered to borrow money, not to exceed the sum of fifteen
thousand dollars, the proceeds of such loan to be used for school
improvements in said district.

2. The said school board may issue bonds not to exceed the
sum of fifteen thousand dollars, to bear interest not to exceed
five per centum per annum, payable semi-annually, with interest
coupons attached thereto, and the principal thereof to be paid
twenty (20) years after date thereof, said bonds to be a lien
upon all of the school property of said school district number
one of said county of Norfolk. The said school property shall
be pledged for the payment of the principal and interest of said
bonds, as therein set forth, and as shown by interest coupons
thereto attached, which said bonds shall be in form as follows:

Know all men by these presents, That the school board of
the Western Branch magisterial district, number one, of the
county of Norfolk, in the State of Virginia, is justly indebted
TO... cece eee ee ee or bearer, in the sum of five hundred dol-
lars, bearing interest at the rate of five per centum per annum
from date, payable semi-annually on surrender of the proper
interest coupons hereto attached, until said principal sum shall
be paid in full.

In testimony whereof, the said school board of said Western
Branch magisterial district number one of the county of Nor-
folk, Virginia, hath caused the corporate seal of the same to
be affixed and these presents to be signed by its chairman and
attested by its clerk, this the ...... day of .2...... cece eeee ,
nineteen hundred and .............
3. The said bonds shall be in denominations of five hun-
dred dollars each, and in making sale of same in accordance
with the provisions of this act, such bonds shall in no event be
sold at less than the par value thereof. And the said school
board shall provide for the payment of the accruing interest
on said bonds, or so many thereof as may be issued and sold,
and also for the payment of the principal of said bonds, in such
manner and by such means as it shall deem necessary.

4. The said bonds, or any one or more of same, may be
issued and sold by the said school board, only for the purposes
herein set forth.

5. The necessity for raising money for the purposes of
aforesaid school improvements in said district, creates an emer-
gency, and this act shall be in force from its passage.